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10.
10
Investment is lower than expected
Source: OECD (2015), OECD calculations based on OECD Economic Outlook: Statistics and Projections
(database).
1. The baseline scenario is the projected development of investment from 2008 onwards, based on a simple accelerator model,
estimated over the period Q1 1996-Q4 2007.

12.
 Step-up offloading of non-performing assets by the asset management company
 Expand capital surcharges on non-performing loans held by banks
 Bolster banking competition by selling stakes in state-owned banks
12
Non-performing loans are high
Non-performing loans to total loans held by banks
Source: Magyar Nemzeti Bank.

13.
 Fund social security cuts with income taxes to broaden the tax base
 Rely more on consumption taxes
 Step up the fight against VAT fraud 13
The labour tax-wedge is high
Average tax wedge, 2015
Single person at 100% of average earnings, no child
Source: OECD (2016), Taxing wages database.
Note: The average tax wedge is the sum of income taxes and social security contributions as a percentage of labour
costs.

18.
 Increase the focus on training in public work schemes
 Scale up the wage subsidy programme
18
The low-skilled do not participate
enough in the labour market
Employment rates of people with below upper-secondary education
Aged 25-64
Source: OECD (2015), Education at a Glance 2015.

25.
25
For more information
http://www.oecd.org/eco/surveys/economic-survey-hungary.htm
Disclaimers:
The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is
without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international
law.
This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of
international frontiers and boundaries and to the name of any territory, city or area.